Philippine Ambassador Meynardo LB. Montealegre presented his credentials to President Nguyen Phu Trong on January 22, 2021.

To strive towards a better future

The 12th of June this year marks the 124th anniversary of the Proclamation of Philippine Independence. The theme of this year’s commemoration is “Rise Towards the Challenge of a New Beginning".

The theme reflects not only on the hard work and sacrifices of the Filipino heroes who fought for the country’s independence, but also the contribution of many Filipinos from the past year of the pandemic, and encourages the country to strive towards a better future.

Indeed, despite the restrictions and challenges of the pandemic, the Philippine economy is expected to grow by 8% this year, more than the initially estimated 7.5% growth. In the first quarter of 2022 alone, the Philippines’ gross domestic product (GDP) increased by 8.3%, an impressive turnaround from the 3.8% contraction a year earlier, and better than the recorded 7.8% growth in the fourth quarter of 2021.

Prime Minister Nguyen Xuan Phuc (R) and Philippine Ambassador Meynardo LB. Montealegre at a meeting in Hanoi on March 17, 2021.

The Philippine government remains optimistic that the country will sustain this economic growth post-pandemic. Based on a survey by the Bangko Sentral ng Pilipinas (Philippine Central Bank), consumer spending in the Philippines remains upbeat for the second quarter of 2022, with household spending outlook on goods and services for the current quarter of the year more upbeat as confidence index increased to 40.4% from 29.6% in the last quarter of 2021.

Consumers expect unemployment to decline, interest rate to increase and the Philippine peso to depreciate. According to the Philippine Statistics Authority, the employment rate in the Philippines currently stands at 94.2% and is expected to increase as the local economy picks up.

To take an aggressive stance towards further integration

The prospects for further economic growth for the Philippines remain robust. And as the bilateral relationship between the Philippines and Vietnam enters its 46th year anniversary in July, the Philippine government hopes that Vietnam will take advantage of the strong macro fundamentals of the Philippines by taking an aggressive stance towards further trade and investment integration.

In 2021, trade between the Philippines and Vietnam amounted to USD 5.8 billion, surpassing the record lodged in 2019, and the highest in the past 15 years. While data for 2022 remains to be seen, there is little doubt that the value this year will be far better as both countries emerge from the restrictive policies that had to be imposed to control the pandemic. In 2021 also, Vietnam was the Philippines’ 11th trading partner, its 12th export market and 10th import supplier.

National Assembly (NA) Chairman Vuong Dinh Hue received Ambassador Meynardo Los Banos Montealegre in Hanoi on July 14, 2021.

Philippine companies see Vietnam as a burgeoning dynamic market with large Philippine companies such as Liwayway, San Miguel, Metro Pacific, Jollibee, and others having established their presence in various markets in the country. Meanwhile, Vietnam is recognized as an important partner of the Philippines in ensuring food security as its topmost supplier of imported rice.

The Philippines also looks forward to elevating its political, social and cultural cooperation with Vietnam in the years to come. Guided by the Philippines-Vietnam Plan of Action for Implementation of the Strategic Partnership which extends from 2019 to 2024, the Philippines remains committed to strengthening cooperation with Vietnam on areas that traverse the following interests: political; security, defense and law enforcement; trade and investments; maritime, ocean and fisheries; agriculture and forestry; education; environment and disaster risk reduction and climate change; culture, tourism, sports and people-to-people linkages; information and communications technology; and regional and international cooperation.

The Embassy to be at the forefront of deepening ties

On 19 July 2021, Philippine President Rodrigo Roa Duterte made a telephone call to then newly elected Prime Minister Pham Minh Chinh to renew the country’s commitment to further strengthen the Philippines-Vietnam Strategic Partnership.

This commitment is likewise demonstrated by the efforts made by the Philippine Embassy to ensure continuous and open communications, friendly engagements, and collaboration with the Vietnamese government.

Since assumption of office, the Philippine Ambassador to Viet Nam has met with high-level officials from various government offices and agencies, including the Prime Minister, the President, the Chair of the National Assembly, as well as the Minister of Foreign Affairs, the Minister of Defense, the Minister of Public Security, and the Minister of Industry and Trade.

Foreign Minister Bui Thanh Son receives Philippine Ambassador Meynardo Los Banos Montealegre on May 9, 2022.

As part of strong affirmation on people-to-people engagements, the Ambassador has also met officials from various People’s Committees in Can Tho, Danang, among others, and the Philippine-Vietnam Friendship Associations.

From July 2021 to present, and despite the challenges posed by the pandemic, the Philippine Embassy also actively participated in cultural events and people-to-people engagements hosted by the Vietnamese government as well as those organized by local communes.

In December 2021, the Philippines was part of an art exhibition entitled “Philippines and Vietnam: Color of Culture”, a six-day event which highlighted the creations of both Vietnamese and Philippine indigenous craft products.

During the recently held Southeast Asian Games, the Philippine Embassy attended several events to extend support not just to the Philippine delegation, but the government of Vietnam as well. Later this month, the Philippine Embassy will also participate in an ASEAN traditional attire exhibition in Thua Thien Hue Province.

The Philippines and Vietnam have also reinforced the close and bilateral commitment of mutual support and cooperation in regional and international fora, including the ASEAN and the United Nations.

In April this year, the Vietnamese government generously donated 200 metric tons of rice to Filipinos affected by Typhoon Ria (Philippine typhoon name: Odette), which manifested Vietnam’s deep commitment to provide assistance to the Philippines in times of need.

As its only Strategic Partner in the Southeast Asian region, the Philippines recognizes that the potential for a deeper and meaningful partnership with Vietnam is enormous. The relaxation of international travel restrictions also bodes well for the flourishing of Philippines-Vietnam relationship with the resumption of high-level visits from Philippine officials, which will provide further impetus for the strengthening of this strategic partnership.

The Philippine Embassy in Vietnam is excited to be at the forefront of this deepening relationship between two beautiful and dynamic countries, and to be the catalyst for the rise of both the Philippines and Vietnam together as we emerge and face the opportunities and challenges of a post-pandemic beginning.